{"id":341913,"date":"2021-09-21T01:24:35","date_gmt":"2021-09-20T22:24:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/apollo-standard-general-make-8b-bid-for-tegna-tv-stations-sources\/"},"modified":"2021-09-21T01:24:35","modified_gmt":"2021-09-20T22:24:35","slug":"apollo-standard-general-make-8b-bid-for-tegna-tv-stations-sources","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/apollo-standard-general-make-8b-bid-for-tegna-tv-stations-sources\/","title":{"rendered":"#Apollo, Standard General make $8B bid for Tegna TV stations: sources"},"content":{"rendered":"<p>&#8220;<strong>#Apollo, Standard <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> make $8B bid for Tegna TV stations: sources<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Apollo Global Management teamed with Standard General on Monday to make a binding bid that topped $8 billion for local TV station owner Tegna, sources close to the matter said.<\/p>\n<p>Tegna \u2014\u00a0spun off from <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>paper giant Gannett\u00a0in 2015 as a separate, publicly traded company \u2014 operates 64 television and two radio stations across 54 US markets.<\/p>\n<p>Apollo has bid for Tegna in recent years and has been rebuffed. The Apollo-Standard General team bid about $22 a share this time, sources familiar said.<\/p>\n<p>Tegna set Monday as a bidding deadline for its formal auction to sell itself through investment bank JPMorgan. The sale is on track, sources said.<\/p>\n<p>Byron Allen, owner of the Weather Channel, has also been studying Tegna\u2019s books and could be bidding Monday, a source close to the matter said.<\/p>\n<p>Merger intelligence service DealReporter on Sept. 15 broke the news an auction was h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ening, sending Tegna\u2019s shares up that day from $17.52 to $18.74. <\/p>\n<p>On Monday, Tegna\u2019s shares closed at $19.52, and at a better-than-$8 billion price the stock would trade beyond $20 a share.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/tegna-tv-402.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"A bid for Tegna would put the company in the hands of Apollo Global Management and Standard General\" class=\"wp-image-19521552\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/tegna-tv-402.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/tegna-tv-402.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/tegna-tv-402.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>A bid for Tegna would put the company in the hands of Apollo Global Management and Standard General<\/figcaption><figcaption><span class=\"credit\">SOPA Images\/LightRocket via Getty Images<\/span><\/figcaption><\/figure>\n<p>Meanwhile, Tegna in recent months has been hit with suits alleging sex discrimination and racial bias.<\/p>\n<p>Suits included one filed by\u00a0Reginald Roundtree, a 67-year-old former Tampa news anchor at Tegna\u2019s Tampa Bay, Fla., station who claimed documents were found on a station manager\u2019s desk that included a \u201chit list\u201d of employees who were over the age of 40 and appear to have been targeted for termination.<\/p>\n<p>Soo Kim\u2019s Standard General, which reported owning 4.8 percent worth of Tegna shares, pointed to these allegations in an unsuccessful proxy fight last spring to overhaul management at the company. <\/p>\n<p>Now, Kim is getting close to buying Tegna with Apollo, giving him a second chance to replace Tegna management, according to sources familiar.<\/p>\n<p>Apollo owns television stations it bought in December 2019 from Cox <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Media<\/a> Group and can likely boost Tegna earnings by combining the companies.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/tegna-tv-404.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"\" class=\"wp-image-19521561\" width=\"619\" height=\"403\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/tegna-tv-404.jpg?quality=90&amp;strip=all&amp;w=1209 1238w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/tegna-tv-404.jpg?quality=90&amp;strip=all&amp;w=907 928w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/tegna-tv-404.jpg?quality=90&amp;strip=all&amp;w=605 619w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/tegna-tv-404.jpg?quality=90&amp;strip=all&amp;w=302 309w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/tegna-tv-404.jpg?quality=90&amp;strip=all 1024w\" sizes=\"auto, (max-width: 619px) 100vw, 619px\"\/><figcaption>Byron Allen, owner of the Weather Channel, has also been studying Tegna\u2019s books, according to a source familiar with the matter<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<\/div><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/09\/20\/apollo-standard-general-make-8b-bid-for-tegna-tv-stations-sources\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Apollo, Standard General make $8B bid for Tegna TV stations: sources&#8221; Apollo Global Management teamed with Standard General on Monday to make a binding bid that topped $8 billion for local TV station owner Tegna, sources close to the matter said. Tegna \u2014\u00a0spun off from newspaper giant Gannett\u00a0in 2015 as a separate, publicly traded company&#8230;<\/p>\n","protected":false},"author":1,"featured_media":341914,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/tegna-tv-403.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[116244,72964,104899],"class_list":["post-341913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-9-20-21","tag-apollo-global-management","tag-standard-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/341913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=341913"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/341913\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/341914"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=341913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=341913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=341913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}